Ripple (XRP) and Shiba Inu (SHIB) Traders Impacted by this Important Binance Update
TL;DR
- Binance will introduce new trading pairs with the Japanese yen later this week.
- Despite new listings, involved cryptocurrencies like XRP, SHIB, ADA, and SOL are currently declining in value.
New Pairs Incoming
The world’s leading cryptocurrency exchange disclosed another update on its trading program to enhance user experience. It will introduce the following pairs XRP/JPY, SHIB/JPY, ADA/JPY, and SOL/JPY on Binance Spot on April 30. Trading bots services for the aforementioned will be enabled on the same day.
The upcoming options focus on the Japanese yen, allowing locals to dive deeper in the cryptocurrency industry. “Users will enjoy zero maker and taker fees on JPY trading pairs until further notice,” the firm clarified.
Earlier this month, Binance simplified crypto trading for Mexicans, too, introducing a direct pair between USDT and MXN.
Despite the additional support from the exchange, the popular altcoins Ripple (XRP), Shiba Inu (SHIB), Cardano (ADA), and Solana (SOL) remain deep in the red amid an overall market correction. Rapid price surges are usually witnessed in the event of an official listing on Binance, with the company embracing all of the aforementioned cryptocurrencies years ago.
Previous Binance Updates
The firm amended its trading program multiple times since the beginning of 2024 by listing new digital currencies and delisting existing ones due to numerous factors, such as poor liquidity.
In March, it allowed users to buy and sell the following pairs: PEPE/FDUSD, UNI/FDUSD, OM/TRY, PIXEL/USDC, STRK/USDC, and THETA/TRY. Shortly after, it removed the popular privacy coin Monero (XMR) and three other altcoins: Aragon (ANT), Multichain (MULTI), and Vai (VAI).
April also witnessed numerous developments. One example is the addition of 18 new loanable assets, including Pepe (PEPE) and dogwifhat (WIF), to Binance Loan.
